PRESS RELEASE

PRESS RELEASE

MALVERN, Pa., June 12 /PRNewswire-FirstCall/ -- Novavax, Inc.
(Nasdaq: NVAX) today appointed Mariann Caprino Vice President of Corporate
Communications and Investor Relations. A former journalist, Ms. Caprino
served for nearly a decade as a spokesperson for Pfizer Inc., where she was
Senior Director and Team Leader of corporate media relations. Ms. Caprino
will report directly to Novavax President and Chief Executive Officer, Dr.
Rahul Singhvi.

"As Novavax continues to evolve and apply our novel vaccine technology to
an expanding number of infectious diseases, communications will serve a
critical link between the company and its many stakeholders," Dr. Singhvi
said. "We are very pleased to have a communications professional of Ms.
Caprino's background and caliber to join our senior management team."

Prior to joining Pfizer, Ms. Caprino was a national business writer at The
Association Press's worldwide headquarters in New York City. She also served
as Director of Communications at the American Foundation for AIDS Research.
At Pfizer, Ms. Caprino was responsible for corporate communications
surrounding the company's portfolio of prescription medicines. She was
involved in a number of high-profile launches and issues, including the
worldwide introduction of VIAGRA(R) in 1998.

"I am looking forward to working closely with a highly talented senior
management team in building Novavax's future," Ms. Caprino said. "I am
especially excited by the commitment Novavax has made to combating disease
with new, innovative and more effective vaccines that will be available to the
world at large."

About Novavax, Inc.

Novavax is focused on creating differentiated, value-added pharmaceutical
and vaccine products and technologies. The company's technology platforms
include the virus-like particle (VLP) manufacturing technology utilizing the
baculovirus expression system in insect cells, as well as novel vaccine
adjuvants based on Novasomes(R), non-phospholipid vesicles and dendrimer
technologies. The company is developing a pandemic flu vaccine against H5N1,
H9N2 and other avian influenza viruses and a seasonal flu vaccine against
human influenza strains using its VLP and Novasome adjuvant technologies.
Novavax's drug delivery technologies include the micellar nanoparticle (MNP)
technology which is the basis for the development of its first FDA-approved
product, ESTRASORB(R). In addition to MNP, Novavax drug delivery technologies
include Novasomes and Sterisomes(R), solvent and oil free emulsions for
subcutaneous depot injection. The company has several products utilizing the
MNP technology in various stages of development.

Forward-Looking Statements

Statements made in this press release that state Novavax's or management's
intentions, hopes, beliefs, expectations, or predictions of the future are
forward-looking statements. Forward-looking statements include but are not
limited to statements regarding usage of cash, product sales, future product
development and related clinical trials and future research and development,
including FDA approval. Novavax's actual results could differ materially from
those expressed in such forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the
Company, or industry results, to be materially different from those expressed
or implied by such forward-looking statements. Such factors include, among
other things, the following: general economic and business conditions; ability
to enter into future collaborations with industry partners, competition;
unexpected changes in technologies and technological advances; ability to
obtain rights to technology; ability to obtain and enforce patents; ability to
commercialize and manufacture products; ability to establish and maintain
commercial-scale manufacturing capabilities; results of clinical studies;
progress of research and development activities; business abilities and
judgment of personnel; availability of qualified personnel; changes in, or
failure to comply with, governmental regulations; the ability to obtain
adequate financing in the future through product licensing, co-promotional
arrangements, public or private equity financing or otherwise; and other
factors referenced herein. Additional information is contained in Novavax's
annual report on Form 10K for the year ended December 31, 2005 and quarterly
report on Form 10Q for the quarter ended March 31, 2006 incorporated herein by
reference. Statements made herein should be read in conjunction with
Novavax's annual and quarterly reports filed with the SEC. Copies of these
filings may be obtained by contacting Novavax at 508 Lapp Road, Malvern, PA
19355 Tel 484-913-1200 or the SEC at http://www.sec.gov.